ASTANA. 18.01.2010. KAZINFORM /Kanat Kulshmanov/ The introduction of venture capital financing will help to implement more agricultural projects; Chairman of the Board of KazAgro National Holding Assylzhan Mamytbekov has said it today at the session of the Kazakh Ministry of Agriculture.
According to him there are problems concerning lack of responsible borrowers in agricultural industry. Many agricultural manufacturers cannot meet imposed requirements because of the credit debts, insufficiency of the hypothec basis and co-financing itself.
"Having analyzed the situation we see that it is insufficient to use only loan and leasing mechanisms. We think it is necessary to use other tools in complex, such as venture capital financing. In this case the state in the name of KazAgro Holding will neutralize these risks by entering to the share capital", - A. Mamytbekov noted.
According to him the use of the complex approach along with the mechanisms of loan, leasing and venture capital financing "will help to implement more agricultural projects".
"In case of approval we can implement this tool on the basis of one of the affiliated companies", - he added.